Fractional interests definition

Fractional interests means partial interests in life policies arising after sale in the Primary Market.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Fractional interests means a fractional interest consisting of an ownership interest as tenant in common in an individual lodging unit in a Resort.

Fractional interests. AWT shall not be required to issue certificates representing fractions of Warrant Shares but shall pay cash in lieu of such fractional shares; provided that holders of Warrants may elect to purchase full shares of Class A Common Stock by delivering an appropriate amount of cash.

Examples of Fractional interests in a sentence

• If the proposed sale is to Servicer or its affiliate, any Fractional Interests held by Servicer and its affiliates shall be disregarded for all purposes of calculating the Lender Majority.

• Any Event of Default by Borrower under the Loan Documents shall constitute an Event of Default under all Fractional Interests held by all Lenders.

• If there are any particular Fractional Interests that the Participating Tribe would like to exclude from the Buy-Back Program, it must specifically identify such interests by providing a written notice to the Buy-Back Program, within 30 days after the effective date of this Cooperative Agreement, to the Buy-Back Program for its consideration.

• Each Lender acknowledges that in the event of a Transfer of the Security Property, Servicer shall, in most circumstances, form a Transfer Entity to take title to the Security Property in accordance with Article 4 and Lenders will be required to assign their Fractional Interests to the Transfer Entity in exchange for a beneficial interest in the Transfer Entity equal to their Fractional Interest.

• Notwithstanding the foregoing, Lender acknowledges that Servicer or its affiliate(s) may also own Fractional Interests in the Loan, in which case Servicer or such affiliate(s) shall, to the extent of its Fractional Interest, be a Lender and be entitled and subject to all the rights and obligations of a Lender under this Agreement.

• The Participating Tribe recognizes and agrees that the Buy-Back Program may acquire any other Fractional Interests on the Reservation in order to utilize the Purchase Estimate.

• The Club Membership Program Documents further describe the Fractional Interests as: Interest Number , providing three (3) weeks of use pursuant to the Governing Instruments, and subject to all rights, restrictions, privileges and easements set forth in the Fractional Declaration.

• The Buy-Back Program will work in good faith and consultation with the Participating Tribe to acquire the Tribal Priority Fractional Interests to the extent feasible and cost effective.

• The Buy-Back Program will purchase Fractional Interests from Owners who voluntarily decide to sell (i) following an offer to purchase and (ii) within a specified time.

• All of the Fractional Interests acquired will be held in trust by the United States for the benefit of the Participating Tribe.

More Definitions of Fractional interests

Fractional interests has the meaning given to such term in Section 9.11 of this Proposal;

Fractional interests. To be cashed-out upon exercise.